North America

White House Budget Chief said Wednesday that the federal government withholds $18 billion from the Hudson Tunnel Reconstruction Project and Second Avenue Subway - two of New York City’s largest construction projects. The hold was announced just hours after the partial shutdown of the government began. It is the latest attempt to put pressure on Democrats in Congress regarding the shutdown. Chuck Schumer, the Senate Democratic Leader from New York State has been an avid supporter of both projects. He is also leading Democratic opposition against President Donald Trump’s plan to continue funding by government. Russ Vought, director of the...

Transportation Department of the United States announced on Tuesday that more than 11,000 Federal Aviation Administration employees will be furloughed in case government funding fails at midnight. U.S. Airlines have warned that an American partial government shutdown would strain American aviation, slowing flights as air traffic control and security officers will be forced to work for free and other functions will be stopped. The Transportation Department stated that the FAA will continue to hire air-traffic controllers and continue field training for controllers. The FAA had suspended most air traffic control training and hiring during previous government shutdowns. The FAA announced...

The third quarter of recent history was both one of best and worst for dealmakers around the world. According to Dealogic, megadeals generated a staggering $1.26 trillion worth of global mergers and purchases during the third-quarter - an increase of 40% over the previous year. This was the second best third-quarter ever by deal value. Data show that only 8,912 transactions were completed, a drop of 16% compared to last year. This is the lowest third-quarter deal volume for 20 years. Dealmakers are in a strange situation, as they had high hopes for 2025 following the election of Donald Trump....

Two U.S. Senators urged on Monday the country's automotive safety regulator to look into reported failures by Tesla's Full Self-Driving System to detect and respond safely to railroad crossings. They cited risks of "catastrophic collisions". According to Tesla, the Full Self-Driving System allows a car to drive its occupants “almost anywhere”, handling everything from navigation, lane changes and steering to parking. However, a human must still supervise. In a letter sent to the National Highway Traffic Safety Administration, Democratic Senators Ed Markey, and Richard Blumenthal called for an investigation. They cited the growing number of near-collisions reported. The letter was...

Investors shrugged off concerns about a government shutdown, and Federal Reserve officials' hawkish comments. The S&P 500 index and Nasdaq index rose on Monday. The rise in stock prices reflects a risk-on attitude among investors. Their expectations of a Fed that is dovish have allowed equities to maintain lofty valuations even as inflation fears and labor market uncertainty persist. "Dip purchasers are rewarded on this market." "One day, they will not, but until proven differently, you need to buy dips," Matthew Tuttle said, CEO of Tuttle Capital Management. At 11:52 am. The Dow Jones Industrial Average dropped 92.77, or 0.2%...

According to LSEG, analysts, and investors, global companies such as Citigroup and McDonald's flocked to Canada's Bond Market this year due to strong investor demand and lower borrowing costs. This trend reflects an increasing willingness of investors and issuers to move away from the US dollar, as uncertainty caused by President Trump's policies on trade continues. According to LSEG, the amount of "Maple Bonds" issued by foreign borrowers on the Canadian market reached 16.32 billion dollars as of September 25. This is more than the $13 billion that was raised for the entire year 2024. It also surpasses the $16.28...

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. As officials rushed to fix a border inspection kiosk outage, passengers arriving at major Canadian airports on Sunday reported being stuck on planes and in terminals crowded with people waiting for immigration. The U.S. president Donald Trump will hold a meeting with four of the top leaders in Congress at the White House, on Monday. This is the day before the deadline for averting a shutdown. On Sunday, Mayor Eric Adams...

Sources say that the Federal Aviation Administration is allowing Boeing to issue airworthiness certifications for certain 737 MAX aircraft and 787 planes as of next week, after holding this authority for years. Since years, the FAA continues to inspect every 737 MAX or 787 aircraft prior to issuing an airworthiness certification and clearing for delivery. The FAA typically delegated the authority for issuing airline tickets to the manufacturer. Source: Under the new program, which will be announced on Friday, Boeing, FAA and other agencies will issue airworthiness certifications alternately every week. Boeing and the FAA did not immediately respond to...

The decline in imports of Russian fuel to Turkey has been due to sanctions and competition from other grades of oil, as well as the fact that President Donald Trump is urging allies not to buy Russian oil, to hinder its war effort. Trump, frustrated by Russia's refusal of to stop fighting in Ukraine and a major source of revenue for Moscow, has asked Europe to cease Russian oil and gas sales. After two hours of discussions with Turkish President Tayyip Erdoan, Trump stated that he thought Ankara might agree to his demand to stop purchasing Russian oil, and he...

Qantas Airways has confirmed that the fire alarm which prompted a pilot to call for help before safely landing at Auckland Airport on Friday, was most likely a false alert. In a statement, the airline stated that the pilot of the Boeing 737 requested an emergency landing when he received intermittent information about a possible fire in the cargo hold. The company said preliminary investigations had shown that there was no fire inside the cargo hold in front, and engineers will inspect the aircraft to find out the cause. A spokesperson confirmed that there were 156 passengers aboard the flight...

A new report by the Center for Strategic and International Studies shows that global shipping companies continue to place commercial vessel orders with Chinese shipyards despite the U.S. targeting these ships with port charges aimed at countering China’s maritime dominance. According to CSIS's analysis of S&P Global's data, released on Wednesday, Chinese shipyards took 53% of global ship orders in terms of tonnage for the first eight-month period of 2025. CSIS reported that the fees were on par with the full-year levels of 2023 before the U.S. Trade Representative launched the China maritime investigation, which paved the path for the...

The Federal Aviation Administration announced on Thursday that it would extend significant flight reductions at Newark Airport, one of three major airports in the New York City region, until late October 2026, as the agency continues to struggle with an air traffic control shortage and congestion problems. The FAA announced in May that it would be reducing flights at Newark Liberty International Airport, New Jersey until 2025. This was after a series major disruptions caused by United Airlines at its hub. These disruptions snarled up hundreds of flights. They also raised concerns about the ageing U.S. Air Traffic Control System....

The third quarter of recent history was both one of best and worst for dealmakers around the world. According to Dealogic, megadeals generated a staggering $1.26 trillion worth of global mergers and purchases during the third-quarter - an increase of 40% over the previous year. This was the second best third-quarter ever by deal value. Data show that only 8,912 transactions were completed, down 16% on last year. This is the lowest third-quarter deal volume for 20 years. Dealmakers are in a strange situation, as they had high hopes for 2025 following the election of Donald Trump. Trump's punishing Tariffs,...

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. A court filing on Monday revealed that Alphabet, which owns YouTube, has agreed to pay the $24.5 million settlement to settle the lawsuit brought by U.S. president Donald Trump against the company for the suspension of the account after the January 2021 U.S. Capitol Riots. Trump announced that he would impose 10% tariffs on imported wood and lumber, and 25% on kitchen cabinets and bathroom vanities, as well as upholstered furniture....

The Nasdaq Composite and S&P 500 both closed slightly higher on Monday, as investors purchased heavyweight technology shares and shrugged aside the uncertainty surrounding a possible U.S. Government shutdown and hawkish comments from a Federal Reserve Official. Investors bet on artificial intelligence's growth and expected that the Fed would continue to cut interest rates in order to combat persistent inflation and labor uncertainty. Wall Street has been focusing on a funding standoff between Republicans, and Democrats, which could lead to a shutdown of the government beginning Wednesday. This is the first day of fiscal year 2026 for the U.S. Lindsey...

Ancora Holdings, an activist investor, welcomed the news on Monday that railroad operator CSX had replaced its CEO. It said they expected his successor to find a merger partner. Ancora Holdings, an activist investor, said it was pleased to hear that CSX had replaced its CEO Joe Hinrichs by Steve Angel on Monday. CSX responded after Ancora urged them to find a new leader or pursue a merger. Ancora announced in August that it was ready to engage in a proxy battle to force these changes. It said CSX stood to lose most after the news in July of Union...

S&P 500 index and Nasdaq index both gained on Monday. Investors shrugged of hawkish remarks by a Federal Reserve official, and weighed in on the potential impact of a government shutdown. These moves are a continuation of Friday's gains. An in-line inflation reading kept the hopes for rate reductions alive, and lifted all three main indexes despite their weekly declines. Beth Hammack of the Cleveland Fed, one of the Fed's most hawkish officials, and who did not vote on the policy for this year, stated that the central bank must maintain a restrictive monetary policy in order to cool the...

CSX Corp announced on Monday that Steve Angel will be its new CEO as of September 28. In premarket trading, shares of the company increased by about 3%. Angel succeeds Joe Hinrichs. Angel will work closely alongside the board and management in order to assist with the transition. He has more than 40 years of experience. This includes 22 years with General Electric and Linde plc, where he worked in locomotives and rail operations. Ancora Holdings, a group of activist shareholders, had urged CSX to explore merger options in order to replace Hinrichs. Union Pacific, the U.S. railroad giant, and...

Donald Trump announced on Thursday a new round punishing tariffs. He said the United States would impose 100% tariffs for imported branded drugs and 25% tariffs for all imports of heavy-duty trucks. Trump said that he will also start charging a 30 percent tariff on upholstered furnishings next week. He said that the new tariffs on heavy-duty trucks were meant to protect manufacturers against "unfair competition from outside" and said that the move would be beneficial for companies like Paccar's Peterbilt, Kenworth and Daimler Truck's Freightliner. Trump has launched a number of national security investigations into the possibility of new...

Howard Lutnick, the Commerce Secretary announced Monday that the United States and Kazakhstan had reached an agreement on locomotives worth $4 billion. Lutnick, in a blog post on X, said that the deal was reached after a phone call between President Donald Trump of the United States and Kazakh president Kassym Jomart Tokayev. Lutnick stated that "these locomotives will provide connectivity in Europe and Asia, connecting The Middle Corridor with American technology as its core." He didn't mention the U.S. firms involved or their role in manufacturing the locomotives. Trump imposed a 25% tariff on the central Asian nation, which...

Donald Trump, the president of the United States, said that he thought it was a good idea to merge Union Pacific and Norfolk Southern for $85 billion. The Union Pacific CEO Jim Vena and President Trump met in the Oval Office last week to discuss the railroad’s plan to buy out Norfolk Southern. Trump told reporters Friday in the Oval Office that "Union Pacific is an excellent railroad." The announcement in July of the merger of two of the major U.S. railroad operators shocked the market, which was already highly concentrated. Under the Biden administration's aggressive antitrust policies, such a...

FedEx posted a higher profit for the quarter, but projected 2026 earnings per shares that were largely below analyst's estimates. This is because it expects to take a hit due to U.S. tariffs ending on low-value direct-to consumer shipments. In extended trading, shares of the company rose by about 6% on Thursday. On May 2, the U.S. government ended the "de minimis exemptions" that allowed packages valued below $800 to be imported duty-free from China and Hong Kong. These shipments represented about three quarters of the roughly 1.4 billion packages which entered the United States every year under this program....

FedEx posted a higher profit for the quarter, but projected earnings per share in 2026 that were largely below analyst's estimates. This is because it expects to take a hit due to U.S. tariffs ending on low-value direct-to consumer shipments. According to data compiled and analyzed by LSEG, the Memphis-based company expects adjusted earnings for full-year in a range between $17.20 and $19.00 per share. The mid-point is slightly below analyst estimates of $18.21. Since 2023, FedEx has been working to reduce operating costs by billions of dollars. This is done through parking planes and closing facilities. It has a...

Union Pacific Corp CEO Jim Vena and U.S. president Donald Trump met in the Oval Office on Friday to discuss the railroad’s proposed $85billion buyout of Norfolk Southern Corp, according to the company. The company is seeking regulatory approval for the largest U.S. railway merger in decades. The announcement in July of a merger between two major U.S. railroad operators shocked a market that was already very concentrated. Under the Biden administration's aggressive antitrust policies, such a proposal was unthinkable. The White House didn't immediately respond to an inquiry for comment. Trump's backing could speed up the review process in...